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ECB president Trichet backs MEPs on new economic governance |
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Written by Editor
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Tuesday, 03 August 2010 13:25 |
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[Editor: this is the latest in the unrelenting push toward global control of economies, banking, and money.]
European Central Bank (ECB) president Jean-Claude Trichet added to the pressure on European Union member state governments by MEPs when he called for a "quantum leap" on economic governance, the European Parliament said in a statement.
Trichet was addressing the EP's economics committee on June 21 2010.
Towing a very similar line to that developed in an EP resolution on economic governance adopted by a large majority last week, Trichet said that policy-makers needed to follow up their words with deeds and advocated for strong surveillance of economic policies, "quasi-automatic" sanctions for under-performing countries, and much more binding power to European Commission proposals regarding budget corrections to be made by a country, the statement said.
During his regular meeting with the committee's MEPs, Trichet also gave his customary assessment of the economic situation in the EU and explained the ECB's May decision to buy Eurozone bonds.
Read complete article at The Sofia Echo.
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Rate of bank failures doubles in 2010 |
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Written by Editor
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Monday, 21 June 2010 20:43 |
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Regulators on Friday shut down a Nevada bank, raising to 83 the number of U.S. bank failures this year.
The 83 closures so far this year is more than double the pace set in all of 2009, which was itself a brisk year for shutdowns. By this time last year, regulators had closed 40 banks. The pace has accelerated as banks' losses mount on loans made for commercial property and development.
The Federal Deposit Insurance Corp. took over Nevada Security Bank, based in Reno, with $480.3 million in assets and $479.8 million in deposits. Umpqua Bank, based in Roseburg, Ore., agreed to assume the assets and deposits of the failed bank.
Read complete article at USA Today.
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Last Updated on Tuesday, 22 June 2010 14:28 |
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Merkel blasts 'treacherous' banks in Greek crisis |
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Written by Editor
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Monday, 10 May 2010 18:29 |
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German Chancellor Angela Merkel on Thursday slammed "treacherous" practices by banks during the Greek crisis and said governments must crack down on speculators hunting profits in the turmoil.
Merkel, whose Christian Democrats face a tough re-election battle in Germany's most populous state Sunday, railed against gamblers on the financial markets who she said were exacerbating an already volatile situation.
"First the banks failed, forcing states to carry out rescue operations. They plunged the global economy over the precipice and we had to initiate recovery packages. Because of these packages, we have become indebted and now, they are speculating against these debts -- that is really very treacherous," she said.
"Governments must regain their supremacy over the markets, which they no longer have, and for that we need much stricter global rules," she added, at a debate on Europe organised by a public broadcaster.
See complete article from AFP.
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Global recovery 'better than expected': Central bankers |
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Written by Editor
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Monday, 10 May 2010 18:13 |
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Leading central bankers said on Monday that a global recovery was not only "better than expected," but was also accelerating.
"We have the feeling that the global recovery is not only confirmed but has some elements, at a global level, of acceleration," said Jean-Claude Trichet, the head of the European Central Bank, speaking for central bankers who met at the Bank for International Settlements.
See complete article here.
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Obama working hard to keep Federal Reserv's secrets |
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Written by Editor
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Sunday, 09 May 2010 20:43 |
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Texas Republican Rep. Ron Paul says an amendment in the U.S. Senate is endangering a plan supported overwhelmingly in the U.S. House that calls for an audit of the Federal Reserve, the private organization that sets interest rates and money policy affecting everyone in the United States.
For decades those decisions have been made behind closed doors, and Paul has been trying to open the door and allow some light to fall on the procedures.
He has pointed out even though the Federal Reserve "can enter into agreements with foreign central banks and foreign governments," the General Accounting Office "is prohibited from auditing or even seeing these agreements."
See complete article at WND.
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The Banksters
